Five reasons to migrate an MVNO to an automated digital telco enabler
The world around us is moving at a rapid pace which has resulted in a sea of challenges for CSPs, MVNOs and other telco operators. But one thing is clear, there’s never been a more important time for telcos to cut costs and keep ahead of the competition. To do this, telcos need cloud-based, modularised and automated solutions.. Fortunately, switching from legacy on-premise infrastructure to an automated cloud-based platform isn’t complicated. So what are the benefits to making this move?
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There are five good reasons why you should consider migrating to an automated digital telco enabler and ditch the old on-premise infrastructure
1 – Minimise OPEX
Running legacy software and infrastructure is expensive. Migrating to a digital-first solution automatically cuts costs.
At Telness Tech, we ensure all our services are centred around the customer experience, enabling us to offer partners a 50% lower churn than the industry average, and a 3x higher customer satisfaction rating.
We’ve done this simply by addressing the cost. Hefty legacy infrastructure is not only outdated, clunky and overcomplicated - it’s expensive. For telcos running off old software and on premise hosting, there’s little to no choice but to set high price margins for the end user.
And whilst in the past switching to digital may have been an afterthought, in a landscape full of financial ambiguity it’s a necessity. The beauty of migrating to a digital first solution is that it automatically cuts your costs, both because of automation that ultimately reduces the need for manual labour as well as a direct reduction in infrastructure cost as a result of cloud hosting and smart scaling of the platform .
Take our services as an example. 80% of our service interactions are self-serve, meaning less overhead costs and support staff needed. In fact, most cloud based models require only 10% of maintenance costs in comparison to traditional infrastructure.
2 – Increase customer happiness
Customers have a digital first mindset that telco operators can’t ignore. They’re used to seamless and tech savvy services such as Netflix and Spotify that are available instantly at their fingertips.
Consumers expect a user friendly service. Our research shows that the majority of telecoms executives (97%) say their customers are loyal to their brand, but 75% of young consumers are planning to switch providers soon. That’s why we’re seeing challenger brands, such as GiffGaff, growing at a rapid pace with a much higher customer happiness score.
In fact, the likes of YOXO by Orange boasts a 90% customer recommendation rate and an NPS score triple that of the average mobile operator. Why? Because going digital has freed telcos up to concentrate on their most important asset, their customers.
3 – Enable product flexibility and innovation
Flexibility is king. Take the UK market as an example - a recent report from Which? reveals that the four major telcos in the UK are ranking lowest, with digital first challenger brands such as GiffGaff and Smarty on top of the list. Whereas challenger brands appeal to this new generation of consumers breaking into the market. With their agile approach and a customer-centric service at the core it’s clear that flexibility as the foundation for innovation is the way forward.
At Telness Tech, our solutions have already proved that four in five support errands can be solved by the customers themselves via an omnichannel admin portal. What’s more, 100% of sales are fulfilled online, from purchase of a mobile subscription, porting and provisioning to activation. Our service also enables clients to offer different deals to customers, and change them quickly to match customer expectations
Going digital allows you to constantly adapt products and services to meet the customers needs in real time. In fact, our research shows that telcos would like to believe that their customers are loyal, however in real life 64% of them would switch if they find a better offer elsewhere. Telcos must innovate and update products and services constantly, to meet their customers needs and maintain retention.
4 – Increase employee satisfaction
Focusing on investing in the right technology is as much about people as it is about business. Legacy infrastructure requires hours of manual labour and support from various departments. And unhappy staff means unhappy customers. A poor working culture as a result of frustrations with tech trickles through into the overall customer experience. With the right digital solutions and tech stack that allows flexibility, employees are able to remain agile and free to make a difference, meaning they work more efficiently and customers are retained. In this case, investing in the right software and hosting isn’t just a business move, it’s a people move.
5 – Minimise the number of vendors and cut costs
It’s so important for telcos to stand up against the competition and be on top of future needs and trends. And whilst there’s no crystal ball to look into that predicts the future, we know that legacy platforms are not built to be continuously developed. They’re static and pose a great risk to falling behind, especially with emerging digital natives. By migrating to an end-to-end automated digital telco provider, MVNOs and challenger brands can consolidate their tech stacks and move away from legacy providers to provide what’s needed. Also, by acquiring a platform on a SaaS model, mobile operators can enjoy continuous product update. No more costly RFCs. Just good customer experience. This allows for innovation and makes operators equipped and agile to deal with future challenges and competition. In this day and age it is important to respond to market trends and customer needs at a fast pace and that is only possible when running on a cloud based, modular platform delivered on a SaaS model.
To know more telness tech and our solutions, contact us on —>sales@telnesstech.com